October 24, 2021 at 16:40 JST
The gate to the construction site for an apartment building developed by Evergrande Group in Guangzhou is closed on Sept. 15. (Asahi Shimbun file photo)
BEIJING--China Evergrande Group said on Sunday it had resumed work on more than 10 projects in Shenzhen, Dongguan and other cities - a statement that comes after it appeared to avert default with a last-minute bond coupon payment last week.
Evergrande, which has some $300 billion in liabilities, said in a post on its Wechat account that some projects had entered the interior decoration stage while other buildings had recently finished construction.
It added that its effort to guarantee construction would shore up market confidence. The report included several photos of construction workers on different projects, stamped with the time and date.
Last week's move to pay $83.5 million in interest on a U.S. dollar bond has bought Evergrande another week to wrestle with a debt crisis looming over the world's second-biggest economy.
The property developer also announced on Friday plans to give future priority to its electric vehicles business over real estate.
Evergrande's woes have reverberated across the $5 trillion Chinese property sector, which accounts for a quarter of the economy by some metrics, with a string of default announcements, rating downgrades and slumping corporate bonds.
Its debt crisis is also being widely watched by global financial markets concerned about broader contagion.
Visit this page for the latest news on Japan’s battle with the novel coronavirus pandemic.
Haruki Murakami and other writers read from books before selected audiences at the new Haruki Murakami Library.
The Asahi Shimbun aims “to achieve gender equality and empower all women and girls” through its Gender Equality Declaration.
Let’s explore the Japanese capital from the viewpoint of wheelchair users and people with disabilities with Barry Joshua Grisdale.